Vince McMahon retired as president and executive director of WWE, a massive change in professional wrestling

The most important person in the history of professional lucha libre is surrendering. Vince McMahon is retiring as president and executive director of WWE, he announced on Friday.

In a press release from WWE, McMahon, 76, also announced that his daughter Stephanie and the current president of WWE, Nick Khan, will take over as co-executive directors. Stephanie, who has been acting as interim executive director, will also assume the role of president, according to McMahon’s communique.

“A lo largo de los años, ha sido un privilegio ayudar a la WWE a brindralles alegría, inspirarlos, emociarlos, sorprenderlos y siempre entretenerlos,” said McMahon’s statement. “Me gustaría agradecer a mi familia por contributor poderosamente a nuestro éxito, y también me gustaría agradecer a todas nuestras superestrellas y employados pasados ​​y presentes por su dedicación y pasión por nuestra marca. Lo más importante, me gustaría agradecer a nuestros fans por permitirnos entrar en sus hogares cada semana y ser su elección de entertainment”.

The announcement is a great surprise, and the retirement of McMahon represents a massive change in the world of professional wrestling, where it has been a fijo element since he bought the WWE in the 1980s. McMahon turned the WWE into una marca de mil millones de dolares con alcance mundial, una promotion que se mantuvo firme durante decasas frente a su compencia.

No obstante, los ultimos meses han sido díficos para el ejecutivo y la WWE. On June 17, McMahon resigned from his position as president and executive director following a Wall Street Journal report that revealed an investigation by the board of directors of WWE on a secret payment of $3 million granted to McMahon as a former legal assistant. WWE. Stephanie assumed the role of interim executive director.

But at this moment, McMahon still conserved his role as creative chief of WWE and sources told ESPN that McMahon’s resignation was more than a visual aspect. The statement issued on Friday to the investors of WWE has much more finality.

“I have a lot of confidence in the continuous success of WWE, and I want our company to be able to handle an extraordinary group of superstars, employees and executives, in particular, both the president and co-executive director Stephanie McMahon, as well as co-executive director Nick Khan,” she said. declaración de McMahon. My personal agradecimiento a nuestra comunidad y socios comerciales, accionistas y la Junta Directiva por su orientation y apoyo a lo largo de los años”.

WWE also announced on Friday that McMahon’s son-in-law and Stephanie’s husband, Paul “Triple H” Levesque, would return to the company as head of talent relations, although it was not immediately clear how that was related to McMahon’s retirement. The Wall Street Journal followed with another report on McMahon’s alleged irregularities on July 8. The newspaper reported that the junta was investigating $12 million paid to four ex-employees or contractors of WWE before McMahon’s accusations of sexual misconduct were silenced.

Los $12 million included unos supuestos $7.5 million to a former wrestler from WWE who affirmed that McMahon forced her to give him oral sex, she was demoted and then she did not renew her contract in 2005 after she resisted having more sexual encounters with him.

McMahon deja un legado complicado, plagado de escándalos, includante los cargos de que proporcionó a sus luchadores esteroides que le imposedo el gobierno de los Estados Unidos en 1994. Un jurado declared a McMahon not culpable.

At the end of the 1990s, McMahon, who also worked in front of the camera as a speaker during the years, became a key character on the screen during one of the hottest periods in WWE history. Su malvado personaje jefe, el Sr. McMahon, facing al antihéroe obrero “Stone Cold” Steve Austin is one of the most memorable stories in WWE history. La rivalry helped WWE a superar a su rival WCW, la promotion rival que WWE compró más tarde.

The two main WWE television programs, Raw and SmackDown, have been among the best rated cable programs since the 1990s.

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